If the backup volumes are filling up as quickly as the OP suggests, there must be some large frequently changing files getting backed up, so those hourly backups will have a lot of unique files taking up a significant amount of space. That makes the number of hourly backups a significant factor.
That's true. I use VMware Fusion 3 to run Windows 7 Ultimate on my Mac. Its virtual machine was in a single file 160GB in size, but I've found a way to trim it down to 20GB by not allocating unused space. I'm a newbie with VMware and it's not easy to figure out the nuances of efficient use. I'll be able to go a long time without getting back to the huge size.
Thanks to joemikeb and you, I've come to understand a lot more about Time Machine. It's really a sold performer. I just have to learn the ropes.